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Office Furniture Export Facts and Figures

ergonomic office chair

Office Furniture Export Facts and Figures

|August 5, 2022 | News

Office Furniture Export

The UK has a strong office furniture export industry, particularly in the North American market, and Colombia is one of the leading suppliers of such products. In terms of value, office furniture exports from the UK are valued at 79 million British pounds, while the market in North America is worth 28.5 million pounds. To help you get started in office furniture exports, here are some facts and figures. In addition to the numbers, let’s take a look at how much UK manufacturers export to different countries.

Colombia

With its strategic geographic location, local production of wood and laminates, and preferential tariffs with many other countries in the region, Colombia is a prime choice for the manufacture of office furniture. The country’s office furniture market is expected to grow at a steady rate over the next few years. In the near future, Colombia is expected to grow its exports of office furniture by over X%. Despite these positives, there are several other factors that make Colombia a top choice for office furniture.

The country’s furniture industry is filled with creativity and innovation. Innovation is encouraged by the highly-developed manufacturing and design sectors, which are also more competitive than ever. Home furniture has consistently ranked as the top Colombia export, followed by office and industrial furniture. Most of Colombia’s furniture is exported in RTA format. A recent trend has been a focus on modern furniture that’s sleek and functional and adapts to its surroundings.

The country’s economy is growing rapidly, thanks to the increase in construction and tourism. The country is also beginning to import more office and furnishing products, such as computer desks, chairs, and furniture. Additionally, Spanish companies are beginning to close significant deals in the country. Overall, Colombia’s business climate is evolving, with new alliances and opportunities with strategic trading partners. Check out our blog for more details. It’s time to start making your next move in the office furniture industry.

Japan

Office furniture production in Japan is US$ 3,500 million. According to the Japanese government, the country is the fourth largest source of office furniture in the world. The United States ranks ninth, importing only 4% of Japan’s furniture. The Japanese furniture industry relies on huge foreign flows to fuel its rapid growth. While the United States has not had a particularly good year for furniture exports, Japan is a growing market. In addition to a booming economy, the country’s housing market is growing. Its GDP is estimated at $4.6 trillion.

The Japan office furniture market is fairly consolidated, with a few major players holding more than 50% of the total market. The top four players are Okamura Corporation, Kokuyo, Itoki, and Uchida Yoko. In addition to domestic players, there are also international companies and home furniture companies making their way into the office furniture market. With more players entering the market, competition should only intensify.

The country’s top five office furniture companies generate over USD 200 million in turnover, followed by a huge number of local, medium-sized competitors. While there is a persistent level of fragmentation, the biggest players are growing in size and scope as a result of massive investments in factory expansion, new facilities, and setting up a good distribution network. These factors are influencing the growth of the office furniture industry in Japan. It is important to note that Japan is a major source of office furniture, and this market has potential for future growth.

North America

Office furniture is an important part of a company’s manufacturing operations. In 2002, sales of office furniture totaled $10 billion in the U.S., and the industry was closely linked to domestic and international economic conditions. In 1989, sales of office furniture to North America increased from $86.7 million to $170.8 million, but the growth was not enough to offset the decrease in domestic sales. As a result, the number of U.S. manufacturers declined by nine percent. However, the industry was able to recover from the recession by growing at a steady clip, and by the early twenty-first century, it was expected to hit $10 billion again.

Exports of office furniture to the U.S. have continued to grow, thanks in large part to globalization. While U.S. manufacturers have benefitted from the increased demand for office furniture in countries such as Mexico, the number of imports has exceeded U.S. exports. In fact, in 2006, U.S. imports of office furniture exceeded exports by eight times. The value of imported office furniture grew by a staggering $30.8 billion, with 98 percent of the imports made of wood products.

United States

The export of office furniture from the United States is growing. The demand for office furniture is rising in countries with low levels of economic growth, such as developing nations. In addition, globalization is boosting demand for office furniture, particularly in low-demand areas. In 2006, U.S. office furniture exports were higher than its imports, which were $30.8 billion. About 98 percent of these imports were wood products. But what are the trends for office furniture exports from the United States?

In terms of market share, office chairs are a major category. In 2017, they held a 14% share in the market. Among other types of office furniture, these include ergonomic, swivel, and stacking chairs. These items are important for the comfort of employees. Today, competition among office furniture manufacturers is mainly driven by the Internet. Manufacturers compete on price and quality. They are constantly innovating to stay at the top of the market.

Growth in the office furniture industry began in the 1960s, but it quickly declined during the early 1990s due to recession and corporate downsizing. While U.S. exports increased slightly in that time, they still did not meet domestic sales. Between 1990 and 1993, U.S. office furniture exports dropped by 9.7%. But the industry recovered during the remainder of the decade, with steady growth. A study from the Business and Institutional Furniture Manufacturers Association (BIFMMA) found that the industry accounted for 5.2 percent of the world market for office furniture.

South Korea

The report on South Korea’s office furniture market provides a comprehensive analysis of the market, including the latest demand forecasts, COVID-19 updates, and key industry trends. It also presents an overview of the major market players and an industry-specific analysis of demand drivers, challenges, and trends. It provides an expert-verified analysis of the market. To understand the current state of the South Korean office furniture market, download the full report today!

South Korea is a deeply integrated nation in international trade. The country’s top five trading partners include the United States, China, Vietnam, Hong Kong, and Japan. It has also signed free-trade agreements with five countries in Central America, and is considering a free trade agreement with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Under the EU-Korea free trade agreement, South Korean exporters no longer have to undergo costly independent certification to sell their products to the EU. Those goods that are made of non-originating materials are eligible for a refund of duties. The EU’s free trade agreement with South Korea aims to reduce foreign sourcing by Korean manufacturers. The agreement also sets forth origin procedures and verification procedures. Based on the exporter’s origin declaration, importers can claim preferential tariff treatment. However, this declaration must be issued by an authorised body and cannot be a simple EUR.1 form.

Taiwan

Over half of all U.S. goods imports come from Taiwan. In fact, Taiwan’s exports of office furniture reached record highs in 2014 and 2015, and have since declined at a much slower pace. In addition, Taiwan’s manufacturing industry has been shedding jobs due to economic conditions, which has shifted the market from manufacturing to assembly. However, Taiwan’s manufacturing capabilities and expertise continue to make its office furniture a popular choice for companies around the world.

Office furniture manufacturers in Taiwan are generally optimistic about the export prospects this year, but some are cautious, noting the increasing price of raw materials and the New Taiwan dollar. Nevertheless, they do see a rocky road ahead. Some of the companies have introduced new products, including computer desks, to meet the growing demand for them. Meanwhile, others are worried about pirated products manufactured in other countries. To help alleviate these concerns, Taiwan has invested in developing new manufacturing technologies and products.

The Taiwan Forestry Research Institute (CEFDI) is conducting research into wood assessment, dry coating, and woodworking machinery. CEFDC also invites factory managers to regular meetings, which help in coordinating the export furniture industry. It also organizes buying missions to international furniture exhibitions to promote domestic products. Furthermore, CEFDC has become a critical behind-the-scenes coordinator for Taiwan’s office furniture industry. In addition to promoting Taiwan’s domestic products, CEFDC also works closely with Taiwan’s export furniture manufacturers, helping them to expand their business.

India

There are a few factors that can make office furniture export to India a profitable endeavor. First, it is essential to understand the dynamics of the Indian market. There are several factors that contribute to this growth, including the overall economic growth, which is expected to continue to accelerate in the near future. Second, the country has a rapidly growing clerical sector and a thriving technology park. These two factors are largely responsible for the growth of the Indian office furniture export industry, and they are driving the overall industry.

The growth in housing and commercial construction are major factors that influence the demand for office furniture. The rise in income has increased global preferences, particularly among the urban affluent. As a result, India’s furniture exports grew by 15 percent between 2014 and 2018, much faster than the global average. In addition, Indian manufacturers are taking advantage of these trends. Currently, the country is one of the fastest growing exporters of office furniture, and the demand for it is set to continue to increase.

In addition to this, the top five countries that export office furniture to India are: China, Italy, Poland, and Brazil. Together, these countries account for nearly 70% of the total Office Furniture export value. A map of the top five partners will help Indian manufacturers choose the target regions. You can even export products like office chairs, desks, and chairs to other countries if you want to expand your reach to a new market. With the right data, you can make a sound business decision when it comes to exporting furniture to the Indian market.

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